The average monthly rent for a home in England and Wales
rose to an all-time high of £846 in July. The overall figure was 5.2% higher
than a year previously, according to the latest monthly index of buy-to-let rentals
from Your Move. The biggest year-on-year increase occurred in south-east
England, with rental costs rising by nearly 15% to £924 as people moved out of
London to escape the capital’s high rents. Rents had been expected to fall as
landlords rushed to buy property ahead of the new stamp duty rates for
buy-to-let properties in April. Your Move’s index shows a slowdown in the early
part of summer, but surveys suggest that demand for rental property is
outstripping supply. Read more on the Guardian website.
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